Currently, numerous chemicals, thermal, electrostatic precipitators and scrubbers among other business offerings are extensively popular among the end-user industries that are commonly provided by several market players operating in the market. Among these, the regenerative thermal oxidizer are specially designed system and equipment that aid in air pollution control through eliminating hazardous air pollutants such as volatile organic compounds (VOCs) and emissions over extreme temperatures to convert them into vapors or carbon dioxide.Despite the high cost of industrial RTOs, the system continues to witness large scale adoption and market growth across different end-user industries over the past few years. Factors such as stringent regulatory guidelines, rising awareness towards environmental pollution and workplace safety are the major factors propelling the growth of the market during the past few years. Furthermore, the increase in demand from several industries such as automotive, chemicals, pharmaceuticals, and manufacturing have further fueled the demand for RTOs owing to swift rise in the production volume across the end-user industries especially across the fast-growing economies.
The Asia Pacific Regenerative Thermal Oxidizer market is growing along with the Manufacturing and Construction industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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Market Overview and Dynamics
The regenerative thermal oxidizer market in Asia Pacific is expected to grow from US$ 2.23 Bn in 2019 to US$ 3.33 Bn by 2027; it is estimated to grow at a CAGR of 5.3%from 2020 to 2027.The stringent governmental acts and rise in the emission quantity of toxic substanceare driving the growth of regenerative thermal oxidizermarket across the region.However, the rising development of substitute products in the market is a hindering factor to the regenerative thermal oxidizer market growth. Further, industries in emerging economies to stimulate demand for RTO, thereby bolstering the growth of the regenerative thermal oxidizer market.
Key Market Segments
In terms of type, thedouble bedRTO segment accounted for the largest share of the Asia Pacificregenerative thermal oxidizer marketin 2019. In terms of end-user, the chemicalsegment held a larger market share of theregenerative thermal oxidizer marketin 2019. Further, based on country, China held the largest share of the market.
These factors are expected to offer broad growth opportunities in the Manufacturing and Construction industry and this is expected to cause the demand for Asia Pacific Regenerative Thermal Oxidizer in the market.
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ASIA PACIFICREGENERATIVE THERMAL OXIDIZER MARKET SEGMENTATION
- Single Bed RTO
- Double Bed RTO
- Triple Bed RTO
- Coating and Printing
- South Korea
- Rest of APAC
- Alliance Corporation
- Anguil Environmental Systems
- Filtračnítechnikaspol. s r.o
- EISENMANN SE
- Shandong Baolan Environmental Protection Engineering Co., Ltd.
- Ship & Shore Environmental, Inc.
- Taikisha Ltd
- The CMM Group, LLC
A few major primary and secondary sources referred to for preparing this report on the regenerative thermal oxidizer marketin Asia Pacificare company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report areAlliance Corporation, Anguil Environmental Systems, Filtračnítechnikaspol. s r.o, CondorchemEnvitech, EISENMANN SE, Shandong Baolan Environmental Protection Engineering Co., Ltd., Ship & Shore Environmental, Inc., Taikisha Ltd. and The CMM Group, LLC
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